Markets

Sector Update: Techs

Technology shares were generally higher in pre-market trade Monday.

In technology stocks news, analysts at RBC Capital Markets have raised their price target on shares of Apple Inc. ( AAPL ) to $675 from $645 a share. The firm left its outperform rating on the stock unchanged.

In today's pre-market session, shares of AAPL have edged up 0.24% to $634.55, amid a 52-week trading spread of $388.87 - $644.17, having traded at new 52-week highs the past few sessions.

Investors are bracing for CEO Tim Cook's keynote speech at the Worldwide Developers Conference in California in San Francisco today, where the tech giant is expected to announce a number of substantial changes to its operating system.

Apple also plans to use the venue in part to provide more plans for its iBeacon, which are apps that can locate a user within a few inches to, for example, pay a restaurant check without the server, the Wall Street Journal reports.

Meanwhile, Google Inc. ( GOOG ) is set to announce the launch of Android TV at its own Google I/O developer conference this month, well known tech news blog GigaOm posts late Friday, citing multiple sources said to be familiar with Google's plans.

In other technology stocks news today, Broadcom (BCRM) shares were up about 10% before the opening bell after it said it plans to explore a sale of its cellular-baseband unit, or wind it down. The company also boosted its Q2 guidance.

Finally, real estate information provider Zillow Inc. ( Z ) has been downgraded by RBC Capital Markets to a sector perform rating from outperform with a price target of $115 a share.

In the pre-market session, shares of Z are down 1.47% to $116.29, and have a 52-week trading range of $48.54 - $123.70.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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